Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have the data excel sheet but its too big .. can you help to set the steps I have to follow to answer that

I have the data excel sheet but its too big .. can you help to set the steps I have to follow to answer that question
image text in transcribed
The great recession, one of the worst economic declines in the U.S. history, officially lasted from December 2007 to June 2009. The collapse of the housing market - fueled by low interest rates, easy credit, insufficient regulation, and toxic subprime mortgages - led to the economic crisis. During this recession, many home owners in Santa Maria-Orcutt county in California who had very high mortgage rates decided to either sell their homes (regular sale or short sale) or were forced to go with the foreclosure. Here is a description of these terms: Short Sale: If you owe more on your loan than your home is worth and need to sell your home, the transaction is called a short sale. You can only do a short sale if your lender approves it, because they must agree to take less money than they're owed. To qualify, you must prove financial hardship with documentation. For example, you could document that you lost your job and no longer have income to cover your housing payments' Foreclosure: If you're in a financial hardship situation and stop making your payments, a foreclosure will be the ultimate result whether you owe more than your home is worth or not. When you miss a payment, it's called default. You'll get a notice of default from your lender when you become 30 days late on your mortgage. If you continue to miss payments after that, you'll eventually receive notices telling you that the lender will begin foreclosure, which will result in the lender repossessing and selling your home Use the dataset in Excel file to come up with a good cost estimating relationship (CER) between some or all of the following independent variables xi: size of the home in ft?, number of bedrooms, number of baths, price per ft? ($/ft?), etc.) and the dependent variable y=price (s) OR ($/ft?). Feel free to make any required adjustments and data processing to have a good reliable CER model. The great recession, one of the worst economic declines in the U.S. history, officially lasted from December 2007 to June 2009. The collapse of the housing market - fueled by low interest rates, easy credit, insufficient regulation, and toxic subprime mortgages - led to the economic crisis. During this recession, many home owners in Santa Maria-Orcutt county in California who had very high mortgage rates decided to either sell their homes (regular sale or short sale) or were forced to go with the foreclosure. Here is a description of these terms: Short Sale: If you owe more on your loan than your home is worth and need to sell your home, the transaction is called a short sale. You can only do a short sale if your lender approves it, because they must agree to take less money than they're owed. To qualify, you must prove financial hardship with documentation. For example, you could document that you lost your job and no longer have income to cover your housing payments' Foreclosure: If you're in a financial hardship situation and stop making your payments, a foreclosure will be the ultimate result whether you owe more than your home is worth or not. When you miss a payment, it's called default. You'll get a notice of default from your lender when you become 30 days late on your mortgage. If you continue to miss payments after that, you'll eventually receive notices telling you that the lender will begin foreclosure, which will result in the lender repossessing and selling your home Use the dataset in Excel file to come up with a good cost estimating relationship (CER) between some or all of the following independent variables xi: size of the home in ft?, number of bedrooms, number of baths, price per ft? ($/ft?), etc.) and the dependent variable y=price (s) OR ($/ft?). Feel free to make any required adjustments and data processing to have a good reliable CER model

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 1

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

8th Edition

1260881237, 9781260881233

More Books

Students also viewed these Accounting questions

Question

L01 Differentiate between types of biological rhythms.

Answered: 1 week ago